ABU-BAKR MASJID ABU BAKR MASJID TRUST Trustees Report and Financial Statements for the year ended 31st March 2021 Registered Charity Number: 1064014 Address: 330 Oxford Road, Reading RG30 IAF Website: info abmreadin .or Abu Bakr Masjid, 330 Oxford Road. Reading. RG30 IAF • 0118 958 1833 Registered Charity Number.. 1064014 madrassa@abmreading.org - info@abmreadin&or8 wwwAbmreading.org ABU-BAKR MASJID STRucfuRE, GOVERNANCE and MANAGEMENT: The Trust was established by trust deed dated 24 June 1997 as amended by deed of variation on 14th July 1997. The Trust was registered with the Charity Commission on 19th August 1997. The Trustees present their annual report and financial statements for the year ended 31st March 2021. The Trustees who served during the year and up to the date of this report are- - Mr Mohammad Saood Mrjawed Iqbal - Mr Mohammad Tariq - Mr Ahmed Gaffar Dr Ali Asghar Khalid Mahmood OBJECTIVES and AcfiviTIES: The Trust was established with the intention of building a purpose-built Islamic Centre in the west of Reading to promote the teachings of Islam. provide Islamic education to the Muslim community and other charitable services which are beneficial to the wider community including the facilities for congregational prayer in the Borough of Reading and to provide other facilitie5 in the interest of social welfare to those who have a need. During the year, the Trust continue to provide service5 in accordance with the objectives and to raise funds by collections and donations to enable improvement and further development of the Centre. PROGRESS: The Centre has been operational for over seven years now when it opened to provide facilities for prayer5, in beginning of 2014, evening school Imadrassahl was opened for children to provide Islamic education and Arabic language. Madra5sah is gradually expanding to cater further educational needs of the Muslim community. In September 2020, a new class (year 71, for both boys and gir15, was introduced and Started new short Islamic course5 for brothers and sisters. Most of the building work has been completed with only minor item5 and general updates and maintenance work which 15 Still ongoing. Abu Bakr Masjid, 330 Oxford Road. Reading, RG30 IAF 0118 958 1833 Registered Charity Number.. 1064014 madrassa@abmreading.org - info@abmreadin&org & ￿￿wAbMreadI￿8.Or8 ABU-BAKR MASJID FUNDRAISING: We continue to fundraise, primarily from the con8re8ation during Juma'h (Friday prayer) and Ramadan in particular. However, due to the pandemic, masjid has been closed most of the year which means normal fund-raising artivities almost stopped and masjid income significantly dropped, donation5 dropped by 58% compared to last year. As a result of the closure of the masjid during the lockdown. we continued the process of raising additional funds through Paypal and online streaming and managed to return the interest free loans that people have so generously given. During the year Trust managed to return £IOO.000 of interest free loan. TRUSTEES REPORT FOR THE YEAR END 31 MARCH 2021: The Trust ha5 regular donations coming through the standing orders plus weekly collections from community on Friday prayer. It is envisaged that this regular fundin8 will continue into the foreseeable future. It is the Trust policy that unrestricted funds which have not been specifically de518nated for a specific use should be maintained at a level above three to six months expenditure. The Trustees consider reserves at this level will ensure that. in the event of a significant unexpected drop in donations, they will be able to continue the Trust's current activities while consideration is given to ways in which additional funds may be raised. The level of reserves maintained throughout the year was above this minimum level. During the year the main cash outflow was £IOOk return of interest fee loan, other than then return of the loan, only the general maintenance of the buildings and staff remunerations were the main expenditures. hence the retained earnings this year compared to previous year have slightly increased. ststement of Trustees. responsibilltles The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the Trustees are required to- select suitable accounting policies and then apply them consistently Abu Bakr Masjid, 330 Oxford Road, Reading. RG30 IAF 0118 958 1833 Registered Charity Number.. 1064014 madrassa@abmreading.org - info@abmreading.org & vMw.abmreading.org ABU-BAKR MASJID observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent State whether applicable UK Atcounting Standards have been followed. subject to anv material departures disclosed and explained in the financial statements and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 1993, 2006 and 2011- and the Charity IAccounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the board of Trustees Trustee .......................... Trustee ......- Abu Bakr Masjid, 330 Oxtord Road, Reading. RG30 IAF 0118 958 1833 Registered Charity Number. 1064014 madr355a@abmreadin8.org - info@abmreading.org Q wwwabmreading.org Abu Bakr Masjid Trust Income Statement for the period Ended 31. Mar 2021 Notes 2021 2020 Donatlons 119,546 290,803 Other Income 148,391 43,120 Total Income 267.937 333,923 Salarles and wages Ill2￿17) 198.6181 Other administrative Expenses 149,5791 168.2501 Return of Interest Free Loan I100,0￿) 1262.3961 1166,8681 Net Operating profit 5.541 167,055 Bank Charges Profit for the period 5,541 167,055 Slatement of Financial P•silion as at 3P Mar 2021 Notes 2021 2020 Fixed Assets Land and Building 1,120,544 1,118,C(Kl Motor Vehicles Fixture and Fittin8S Intangible Assets 1,120.544 1,118,( Current Assets Debtors Cash at bank and in hand 207.613 202,073 207,613 202,073 Current liabllltles Creditors Short term loans Accruals Net Current A$5ets 207.613 202.073 Long Term Liabilities I25,￿)0) 1125,0001 Net Assets 1.303.157 1,195.073 Flnanced Bv Retalned Earnings 1,297.616 1.028,018 Current Earnings 5,541 167 055 1.303.157 1,195,073 1,30a.157 1.195,073